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New bond speeds pan-Africa trade

[ October 24, 2023   //   ]

Afreximbank has issued the first multi-border transit bond under a new guarantee scheme. The Afreximbank African Collaborative Transit Guarantee Scheme (AATGS) aims to promote the seamless movement of goods across multiple national customs borders and shorten the time needed for border clearances. The US$10 million transit bond issued in favour of Innovate General Insurance (IGI) of Zambia is expected to provide counter guarantees and boost IGI’s capacity to issue bonds to clearing and forwarding agents in Zambia.

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